Usually, insurance providers offer quick settlement offers to accident victims, hoping that they don’t need to pay them more than the worth of their personal injury claims. Before you accept a lowball settlement offer from an insurer, you must think about some factors. One of these factors is whether you have consulted an attorney.
If you are considering accepting a settlement offer, you should learn more about your options and rights through an attorney. Your lawyer can help you secure maximum compensation from the insurance company by considering not only your current medical needs but also your future needs.
Calculating Future Medical Needs
Before you accept an insurer’s settlement offer, you must ensure that the offer includes your future medical expenses. The majority of insurers don’t factor in such costs. This is a tactic they use to avoid paying your claim’s full value. Insurance providers usually count on accident victims not understanding the way their claim’s value is calculated.
A reliable personal injury attorney can review your medical bills and possible future medical costs, depending on your injury’s prognosis. Some injuries may require several surgical procedures, monthly doctor’s visits, and in-home medical care. A lawyer will review these costs, so you can recover compensation that covers both your current and future needs.
Factoring In Non-Economic Damages
Usually, accident victims sustain more than just physical injuries. In some instances, an accident and the injuries sustained by victims lead to severe emotional distress that can negatively affect the lives of victims. This is the reason victims may want to seek compensation for their pain and suffering. However, insurance companies do not always include these damages in their settlement offers. If they do, the offer may not reflect the full value of a victim’s pain and suffering.
To prove your emotional damages, you can provide the insurer with evidence of your visits to a mental health specialist. Your lawyer has the resources to prove these damages, ensuring you secure maximum compensation that includes non-economic damages.
Understanding Your Options
The majority of insurance companies make lowball settlement offers and lead victims to think their cases can only be resolved by accepting their offers. The truth is that there are different options to resolve a dispute. These include settling through medication, having an arbitration hearing, or filing a lawsuit.
Keep in mind that before you file a lawsuit, you should explore negotiation opportunities with the insurer. If the company does not cooperate and refuses to pay the compensation you need, your attorney can help you understand your legal options.